My family lawyer has sent a quote for £995 for freehold conveyancing in Heath Hayes. I’m hoping to downsize from a Edwardian detached home for £300,000. Is this overpriced? Is it above the average fee for conveyancing in Heath Hayes?
The charges are a little high. If you are content to spend time contrasting costs you might get the conveyancing a bit cheaper by as much as a hundred pounds. That being said, you maylive to rue choosing an an untested lawyer. Don't forget to be sure that the conveyancer can also act for your lender. Do employ our comparison tool to find a Heath Hayes conveyancing company on the banks approved list of lawyers which can often include conveyancing solicitors in Heath Hayes.
I purchased a freehold house in Heath Hayes yet pay rent, why is this and what is this?
It is rare for properties in Heath Hayes and has limited impact for conveyancing in Heath Hayes but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
We hope to to purchase with Melton Mowbray Building Society. We have called around locally but am struggling to find a Heath Hayes conveyancing firm on the Melton Mowbray Building Society approved list. Please you assist?
Please do make use of the search tool on this page. Pick the mortgage company and type Heath Hayes or your location and you will be presented with numerous conveyancers based in Heath Hayes or by proximity to you.
I am purchasing a new build house in Heath Hayes with a loan from Clydesdale. The developers would not move on the amount so I negotiated five thousand pounds worth of additionals instead. The property agent told me not to tell my conveyancer about the side-deal as it would put at risk my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Heath Hayes is the location of the property. Can you shed any light on this issue?
Flying freeholds in Heath Hayes are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Heath Hayes you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Heath Hayes may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Completion is due on the disposal of our £375,000 maisonette in Heath Hayes in 10 days. The managing agents has quoted £336 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Heath Hayes?
For most leasehold sales in Heath Hayes conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
-
Addressing conveyancing due diligence enquiries
Where consent is required before sale in Heath Hayes
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I acquired a 2 bed flat in Heath Hayes, conveyancing was carried out in 2006. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Heath Hayes with over 90 years remaining are worth £176,000. The ground rent is £50 levied per year. The lease runs out on 21st October 2075
You have 50 years remaining on your lease we estimate the premium for your lease extension to span between £31,400 and £36,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.